Regents vote to increase UT-Austin’s share of endowment payout


The governing board of the University of Texas System voted unanimously Thursday to boost UT-Austin’s share of the system’s annual endowment payout by 4 percentage points, or $24 million, to $338 million.

The flagship campus had been scheduled to receive 49 percent, or $314 million, of the payout. Instead, it will get 53 percent, effective for the budget year that begins in September.

In making the motion for the change, Regent R. Steven Hicks, a 1972 graduate of the flagship, said: “I admittedly bleed orange.”

He said the increased funding would help the university pursue a goal of ranking among the top five public universities in the nation.

“I think it’s time for us to put our money where our mouth is,” Hicks said.

The regents’ action concerning the distribution from the Permanent University Fund, a multibilliion-dollar endowment, came during a retreat at the Hotel Granduca Austin in West Lake Hills.



Reader Comments ...


Next Up in Texas News & Politics

Texas House votes again to move forward on tree bill Abbott vetoed
Texas House votes again to move forward on tree bill Abbott vetoed

Texas House members voted Thursday to advance a bill that would lower the fees that cities require for tree removal — a measure similar to one Gov. Greg Abbott already vetoed, while a bill the governor requested for the special session remains stalled in committee. House Bill 7 would require cities charging tree removal fees to allow the planting...
Community news: Volunteer to help Travis County victims

TRAVIS COUNTY TRAVIS COUNTY Volunteer to help victims The Travis County sheriff’s office’s victim services unit is seeking volunteers to provide immediate assistance to victims of criminal and crisis circumstances. Volunteers must complete a comprehensive training program that is scheduled for 6-9 p.m. Mondays and Thursdays and 9 a.m. to...
NEW DETAILS: Lightning strikes cost more than $1 million in damage to Leander homes
NEW DETAILS: Lightning strikes cost more than $1 million in damage to Leander homes

Lightning strikes caused more than a $1 million in fire damage to three Leander homes during Monday’s storm, according to the Leander Fire Department. A home in the 3500 block of Goodnight Trail has $600,000 in estimated damage, and damage is estimated at $270,000 for a house in the 2000 block of Lookout Range, the department said in a news release...
House gives preliminary OK on stricter abortion reporting requirements
House gives preliminary OK on stricter abortion reporting requirements

In its first day of bill voting on supplemental items on Gov. Greg Abbott’s special session agenda, the House on Thursday gave preliminary approval, 97-46, on a bill that would require stricter reporting of abortion complications. House Bill 13 by Rep. Giovanni Capriglione, R-Southlake, would require abortion providers and health care facilities...
JUST IN: Mobile Loaves & Fishes homes to get $2 million grant from Downtown Austin Alliance
JUST IN: Mobile Loaves & Fishes homes to get $2 million grant from Downtown Austin Alliance

An affordable housing development operated by the nonprofit Mobile Loaves & Fishes will receive a $2 million grant from Downtown Austin Alliance, the groups announced Thursday. The money is the largest gift ever from Downtown Alliance and the largest for Mobile Loaves & Fishes in Austin, which serves the area’s homeless population...
More Stories